Author: Akintayo Adams

The Naira appreciated against the dollar in both the official and parallel foreign exchange markets on Thursday, December 12, 2024. According to data from FMDQ, the Naira strengthened to N1,534.35/$1 on Thursday, compared to N1,545/$1 traded the previous day. This represents an appreciation of N11 against the American greenback. Similarly, in the black market, the Naira closed at N1,680/$1 as against the N1,710/$1 recorded the previous day. The appreciation follows the Central Bank of Nigeria’s recent launch of the Electronic Foreign Exchange Matching System (EFEMS) to eliminate distortion and bring transparency to the FX market. Get instant and latest news…

The Federal High Court in Abuja has granted former Kogi State Governor Yahaya Bello ₦500 million bail in an alleged ₦80 billion fraud case. Justice Emeka Nwite ordered Bello to produce two sureties who must own properties in Abuja and swear to an affidavit of means. The properties’ title documents will be verified by the court’s Deputy Chief Registrar. Bello, who pleaded not guilty to the 19-count charge of alleged money laundering brought against him by the Economic and Financial Crimes Commission (EFCC), was ordered to surrender his Nigerian passport and submit two recent passport photographs to the court. He…

Seplat Energy has completed its acquisition of Mobil Producing Nigeria Unlimited (MPNU) from ExxonMobil for $800 million. This deal, initially valued at $1.28 billion, is expected to double Seplat’s crude oil production to approximately 120,000 barrels per day and enhance its reserves by 86% to 887 million barrels of oil equivalent. The acquisition positions Seplat as Nigeria’s leading independent energy company and is fully funded through existing cash and debt facilities. Chairman Udoma Udo Udoma expressed gratitude to President Bola Ahmed Tinubu and various ministries and regulators for their support. Get instant and latest news updates via Our WhatsApp Community, X/Twitter or Google News online…

The World Bank is expected to approve a $500 million loan to Nigeria on Friday, marking the 10th loan under President Bola Ahmed Tinubu’s administration. This loan is part of the Rural Access and Agricultural Marketing Project – Scale Up, designed to enhance rural access and agricultural marketing in the country. The loan aims to close the gap between communities and the broader marketplace in Nigeria. A major prerequisite for participation in the project is that subnational entities must have a fully functional Roads Fund and Roads Agency with appointed boards and staff, and provisions for administrative costs in the…

Senior reproductive health experts have debunked the myth that using alum to wash the vagina can tighten it and restore lost virginity. They have warned women against indulging in this harmful practice, which could introduce infections and increase the risk of infertility. Dr. Uche Agu, an Associate Professor and Consultant Obstetrician and Gynaecologist at the University of Nigeria Teaching Hospital, described the practice as a misconception with no medical basis. He explained that alum can be corrosive, causing burning and irritation of the vaginal wall, which can lead to scarring and potentially require surgical intervention. Agu emphasized that using alum…

Nigerian singer Tiwa Savage has hinted that cheating isn’t a deal breaker for her. According to the 44-year-old singer, she has never dumped a man because of cheating. She disclosed this in a recent episode of ‘The Receipts’ podcast hosted by Tolly T and Audrey. Savage mentioned that deeper issues such as drug abuse, emotional neglect, and ghosting are the deal breakers for her. “I have never left a man because he cheated on me. I’ve left due to so many reasons like drug abuse, emotional abuse, and being ghosted,” Savage said. Get instant and latest news updates via our WhatsApp…

American singer and actress Selena Gomez has announced her engagement to her boyfriend, producer Benny Blanco. The billionaire superstar made the announcement via her Instagram page on Wednesday while flaunting a huge diamond ring. She simply captioned the photo, “Forever begins now.” Taking to the comment section, her fiancé, Blanco wrote, “Hey wait… That’s my wife.” Gomez’s best friend, Taylor Swift, reacted: “Yes, I will be the flower girl.” The couple confirmed that they were dating in December 2023. Get instant and latest news updates via our WhatsApp Community, X/Twitter, or Google News online channel.

The Super Eagles and the Super Falcons have been nominated for the 2024 CAF Men’s and Women’s National Team of the Year. The award committee also nominated the African champions, Elephants of Cote d’Ivoire, and Bafana Bafana of South Africa for the Men’s National Team of the Year. Related || Edo Queens to vie for 2024 CAF Women’s Club of the Year Award Banyana Banyana of South Africa and Atlas Lionesses of Morocco are the other teams in contention for the Women’s National Team of the Year. The Super Eagles finished second at the 2023 Africa Cup of Nations in…

Edo Queens have been included in the final shortlist for the 2024 CAF Women’s Club of the Year. The two other clubs nominated for the award are African champions TP Mazembe and AS FAR of Morocco. CAF announced the final shortlist on Thursday. Edo Queens won the WAFU B Women’s Champions League earlier in the year. Moses Aduku’s side finished fourth at the 2024 CAF Women’s Champions League last month. The Benin City club will be looking to become the first Nigerian club to win the award. The award ceremony will hold in Marrakech, Morocco, on Monday, December 16. Get…

The National Economic Council (NEC) meeting chaired by Vice President Kashim Shettima saw 36 states submit their recommendations regarding the creation of state police. The majority of the governors are in favor of the establishment of state police to address Nigeria’s growing security challenges. Kaduna State Governor, Uba Sani, revealed that at the next NEC meeting, scheduled for January 2025, a definite position will be adopted. He emphasized that most states agree on the establishment of state police, considering the unique security issues each state faces. However, the failure of the Federal Capital Territory Administration under Nyesom Wike to submit…